Posted on August 12, 2013 by Corey Hart
Aug

12

2013

Growth trend for sales, new contracts and new listings continues

OVERVIEW

Demand in the Baltimore Metro Region remains strong in the summer months, as shown by increases in sales and pending contracts.  Inventories continue to decline, but the pace has slowed, bolstered by new listings.  High demand and low supply contributed to median sale price gains throughout the region.  All counties in the region had median sales price increases in July, and the median price for the region as a whole reached its highest level since summer 2008.  The median days-on-market continues to be historically low and is now at its lowest July-level since 2005.  While the number of sales decreased from June, this is typical of summer seasonal patterns and the decline was smaller than in past years.  The Baltimore Metro Region continues to recover, with increases in new listings helping to meet pent up demand.  Increasing prices may encourage potential sellers to list their homes, continuing the growth in new listings.

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Posted on July 10, 2013 by Corey Hart
Jul

10

2013

Townhome median price sets new record; Double-digit growth for new listings for the third straight month

OVERVIEW

Several key market indicators continue to trend upward in the Washington DC Metro Area.  Sales and new contracts had double-digit growth in June and are now at multi-year highs.  The inventory shortage also continues to shift for the region.  While the number of active listings remains historically low, new listings are surging, rising at a double-digit rate relative to last year for the third consecutive month.  Many of these new listings are likely being purchased the same month they are listed, as the median days-on-market remains at its housing-boom level of nine days.  This strong demand is pushing up the median sale price.  The Washington DC Metro Area tied the record high for median sales price in June. 

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Posted on July 10, 2013 by Corey Hart
Jul

10

2013

Growth trend for new listings continues, good news for buyers; Lowest median days-on-market since the end of 2005, sellers take notice

OVERVIEW

The Baltimore Metro Region housing market continues to show signs of strength relative to last year, and some indicators are at multi-year highs.  Sales and new pending contracts rose at double-digit rates for the third month in a row, and the median sales price is nearing its pre-recession level.  The number of active listings in the market continues to fall, and remains at an 8-year low.  New listings on the other hand are trending upward, growing at a double-digit rate for the third consecutive month.  The condo market has rebounded considerably from last year, and led all property segments in terms of growth rate for several indicators including sales, new contacts, and new listings. 

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Posted on June 10, 2013 by Corey Hart
Jun

10

2013

Lowest median days-on-market since the peak of the housing boom

OVERVIEW

The housing market in the Washington DC Metro Area continues to post strong growth as we approach the summer season.  Sales are at a seven-year high for May, and new contracts are back to peak housing boom levels.  The median sale price for the region is rising and posted the highest May level on record. The median sale price is now over $30,000 higher than May 2012, and over $70,000 higher than May 2011.  It appears that the rising price points could be enticing more sellers to enter the market, as new listings are up nearly 20 percent from this time last year, reflecting back-to-back months of double-digit growth for this indicator.

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Posted on June 10, 2013 by Corey Hart
Jun

10

2013

Median days-on-market at a seven-year low

OVERVIEW

Market indicators continue to improve in the Baltimore Metro Region as we head into summer.  Sales and new pending contracts increased at double-digit rates for the second month in a row, and the median sales price resumed growth after falling flat last month.  The inventory of homes for sale remains at an 8-year May low across all property segments.  Despite the continual inventory shortage, new listings are showing signs of life and are up nearly 20 percent from this time last year, reflecting back-to-back months of double-digit growth for this indicator. 

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